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What is the differance between Direct Tax and Indirect Tax?
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Answer / h.r. sreepada bhagi
Direct taxes are those taxes are those which needs to be
paid by the person who ultimately bears it. Income Tax,
Wealth Tax, Gifte Tax, etc. are the example.
Indirect taxes are those which are levied by the government
and collected from some who is not the ultmate bearer of the
tax burden. Sales (VAT), Central Excise, Customs Duty, etc.,
are the examples. To elaborate VAT or Excise Duty are
payable by an business entity on its products to the
government, but it collects these taxes from the buyers of
these goods through Tax Invoice (Sales Bill).
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / naveen
direct texes is that kind of taxes which being paid by a
person on his actual income directly like income tex. and
inderect texes is that kind of taxes which a person have to
pay indirectly like sales tex, vat etc.
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / guest
Direct tax means a tax on the direct income of a person.
A person can not pass on the burden of Payment of tax to
other party. whereas a tax which can be pass on to other
party is called as Indirect tax.
in short, tax which cannot be transferred to other is
called Direct tax and which can be transferred is called
Indirect Tax.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / ajoy kumar rai
DIRECT TAX ARE THOSE WHOSE INCIDENCE AND BURDEN FALLS ON
THE SAME PERSON AND HE/SHE HAS TO BEAR IT. EX-INCOME
TAX,WEALTH TAX,GIFT TAX ETC,
ON THE CONTRARY, INDIRECT TAX ARE THOSE WHOSE BURDEN IS
NOT FALL DIRECTLY ON A PERSON.EX- SALES TAX.
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